2nd Circ. Tosses Credit Lyonnais Pension Case

Law360, New York (October 1, 2009, 1:01 PM EDT) -- A federal appeals court has upheld the dismissal of a case brought by three former Credit Lyonnais employees claiming the French bank cheated them out of pension payouts promised to them, finding that oral statements alone cannot change the terms of an employee pension benefits plan.

The U.S. Court of Appeals for the Second Circuit on Wednesday affirmed a lower court’s decision tossing the case on summary judgment and determined that the employees who had once held top positions at the bank’s unit failed to point...
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